scholarly journals Capital Structure Determinants of S&P BSE 500: A Panel Data Research

2019 ◽  
Vol 8 (2S7) ◽  
pp. 377-380 ◽  
Keyword(s):  
Panel Data ◽  
Capital Structure ◽  
Regression Model ◽  
Firm Size ◽  
Explanatory Variables ◽  
Industrial Sectors ◽  
The Capital Structure

The paper identifies the most important factors specific to companies which impacts on the capital structure of 416 companies belonging to 14 industrial sectors listed in S&P BSE 500 for a duration of 19 years which is from 2000 to 2018. Multi regression model is used to understand the influence of select variables on capital structure. The study finds that 4 explanatory variables like firm size, tax paid, depreciation to total assets ratio and profitability ratio are statistically significant capital structure determinants

Determinants Of Capital Structure For Multinational And Domestic Companies In India: Panel Data Regression Model

2019 ◽  
Vol 118 (7) ◽  
pp. 147-154
Author(s):  
K. Maheswari ◽  
Dr. J. Gayathri ◽  
Dr. M. Babu ◽  
Dr.G. Indhumathi
Keyword(s):  
Panel Data ◽  
Capital Structure ◽  
Regression Model ◽  
Business Risk ◽  
Return On Assets ◽  
Panel Data Regression ◽  
Data Regression ◽  
Return On Capital ◽  
Domestic Companies ◽  
The Capital Structure

The capital structure refers to the components of capital needed to establish and expand its business activities. The study was made with an objective to examine the determinants of capital structure of multinational and domestic companies listed in S&P BSE automobile sector. The study concluded that there is significant impact on capital structure determinants such as size, business risk, non debt shield tax, return on assets, tangibility, profit, return on capital employed and liquidity on the capital structure of multinational and domestic companies of Indian Automobile Sector.  

scholarly journals Faktor-Faktor Yang Mempengaruhi Struktur Modal Perusahaan Yang Terdaftar di Jakarta Islamic Index Periode 2013-2017

2020 ◽  
Vol 6 (4) ◽  
pp. 704
Author(s):  
Nisaaul Jamil ◽  
Atina Shofawati
Keyword(s):  
Panel Data ◽  
Linear Regression ◽  
Capital Structure ◽  
Multiple Linear Regression ◽  
Firm Size ◽  
Significant Influence ◽  
Research Method ◽  
Quantitative Approach ◽  
Analysis Technique ◽  
The Capital Structure

This study aims to determine the effect of profitability, liquidity and firm size on the capital structure of companies listed in the Jakarta Islamic Index Period 2013-2017. The research method used is quantitative approach. The data in this research is panel data. The analysis technique in this research is multiple linear regression. The results showed that simultaneously profitability, liquidity and firm size have a significant influence on capital structure. Profitability partially has a significant influence on capital structure. Liquidity and firm size have no significant effect on capital structure. The results of this study are expected to expand the knowledge that is important for practitioners and academics.Keywords: Profitability, Liquidity, Firm Size, Capital Structure

Analysis of Factors Affecting Capital Structure in Food and Beverage Manufacturing Company

2018 ◽  
Vol 1 (2) ◽  
pp. 1-14
Author(s):  
Nur Hajja Aini ◽  
St Habibah
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Significant Influence ◽  
Fixed Effects ◽  
Random Effect Model ◽  
Manufacturing Companies ◽  
Business Risk ◽  
Growth Opportunities ◽  
Food And Beverage ◽  
The Capital Structure

The purpose of this research to analyze the influence of firm size, liquidity, growth opportunities, tangibility asset, and business risk to the capital structure of listed food and beverage manufacturing companies in Indonesia and Vietnam Stock Exchange from 2010 to 2016. The result shows that the fixed effects model should be appropriate for this study as compared to the random effect model. Capital structure significantly differences between the two countries. Firm size has a positive but insignificant influence on the capital structure in Indonesia, whereas it has a positive and a significant influence on the capital structure in Vietnam. Liquidity has a negative and significant influence on the capital structure both in Indonesia and Vietnam. Growth opportunities have a negative but insignificant influence on the capital structure both in Indonesia and Vietnam. Asset tangibility has a positive but insignificant influence on the capital structure in Indonesia, but it has the negative but insignificant influence on the capital structure in Vietnam. Ultimately, the business risk has a negative and significant influence on the capital structure in Indonesia but has a positive and insignificant influence on the capital structure in Vietnam.

Good Corporate Governance, Profitabilitas, Ukuran Perusahaan dan Struktur Modal

2017 ◽  
Vol 9 (1) ◽  
pp. 1-17
Author(s):  
Hesty Juni Tambuati Subing
Keyword(s):  
Capital Structure ◽  
Board Of Directors ◽  
Firm Size ◽  
Stock Exchange ◽  
Secondary Data ◽  
Institutional Ownership ◽  
Annual Reports ◽  
Financial Reports ◽  
Basic Industry ◽  
The Capital Structure

The purpose of this research is to know about the effect of these factors Corporate Governane proxy by Institutional Ownership and Number of Board of Directors, Firm Size, and Return On Asset in basic industry and chemistry towards capital structure, and also to determine which of those factors having powerful effect to the capital structure. This research is using secondary data, such as the financial reports, annual reports and other related information of basic industry and chemistry listed in Indonesian Stock Exchange which sample were taken from 45 companies for the period of 2013 to 2014, and the choosing of these samples was based on the purposive sampling method. Panel data is used to test the effect of Institutional Ownership, Board of Directors, Return on Asset and Firm Size among as independent variables, in regard to capital structure as dependent variables. The result shows that only Return On Asset have significant effect to the Capital Structure in the basic industry and chemistry. Meanwhile Institutional Ownership, Board of Directors and Firm Size have no effect to the Capital Structure in the basic industry and chemistry. Keywords: Institutional Ownership, Board of Directors, Return On Asset, Firm Size, Capital Structure

FAKTOR DETERMINAN PEMBENTUK STRUKTUR MODAL PADA PERUSAHAAN SEKTOR FARMASI PERIODE 2012 - 2016

2017 ◽  
Vol 2 ◽  
pp. 241-250
Author(s):  
Neng Ria Kanita ◽  
Hendryadi Hendryadi
Keyword(s):  
Panel Data ◽  
Capital Structure ◽  
Firm Size ◽  
Stock Exchange ◽  
Pharmaceutical Manufacturing ◽  
Manufacturing Companies ◽  
Purposive Sampling ◽  
Panel Data Regression ◽  
Data Regression ◽  
Partial Effects

This study aims to examine the simultaneous and partial effects of profitability, liquidity, and firm size on capital structure. The sample is 10 pharmaceutical manufacturing companies listed in Indonesia Stock Exchange period 2012-2016, using purposive sampling. The technique of analysis used is panel data regression (pooled regression). The results showed that the selected model is the fixed effect. Simultaneously NPM, CR, and Firm Size have a significant effect on capital structure. Partially NPM has a negative and significant effect on capital structure. CR partially have a negative and not significant effect on capital structure. Partially Firm Size have a positive and significant effect on capital structure. Variables that have a significant effect on capital structure are NPM and Firm Size. While CR does not significantly affect the capital structure. Keywords: Capital Structure, Profitability, Liquidity, Firm Size

scholarly journals Analisis Profitabilitas, Ukuran Perusahaan, Struktur Aset, Likuiditas, dan Risiko Bisnis terhadap Struktur Modal Perusahaan Manufaktur di Indonesia

2020 ◽  
Vol 3 (2) ◽  
pp. 282-291
Author(s):  
Velda Lianto ◽  
Annisa Nauli Sinaga ◽  
Elvi Susanti ◽  
Christina Yaputra ◽  
Veronica Veronica
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Manufacturing Companies ◽  
Business Risk ◽  
Purposive Sampling ◽  
The Capital Structure

Capital structure reflects the extent to which companies can manage existing capital to generate profits. The purpose of this research is to examine and analyze the influence of variables of profitability, firm size, asset structure, liquidity, and business risk on the capital structure in Manufacturing companies listed on the Indonesia Stock Exchange in the period of 2015 - 2018. The sampling technique uses purposive sampling by determining 3 criteria. From total of 155 companies, only 69 companies were sampled. The result of this research indicate that profitability has a positive and significant effect on capital structure, firm size has a positive and no significant effect on capital structure, asset structure has no effect and no significant on capital structure, liquidity and business risk have a negative and significant effect on capital structure in Manufacturing companies listed on the Indonesia Stock Exchange in the periode of 2015 -  2018. Keywords: Profitability, Firm Size, Asset Structure, Liquidity, Business Risk and Capital Structure

scholarly journals Determinants of the Capital Structure of Companies Listed on the Stock Exchanges of Argentina, Brazil and Chile: An Empirical Analysis of the Period from 2007 to 2016

2020 ◽  
Vol 12 (6) ◽  
pp. 18
Author(s):  
Marcelo Rabelo Henrique ◽  
Sandro Braz Silva ◽  
Antônio Saporito ◽  
Sérgio Roberto da Silva
Keyword(s):  
Panel Data ◽  
Capital Structure ◽  
Order Theory ◽  
Future Research ◽  
Stock Exchanges ◽  
Pecking Order ◽  
Pecking Order Theory ◽  
Speed Of Adjustment ◽  
Asset Growth ◽  
The Capital Structure

The present investigation refers to the determinants of the capital structure, using the technique of multiple regression through Panel Data of open capital companies in the stock exchanges of Argentina, Brazil and Chile, in order to know the behavior of determinants of the capital structure in relation to Trade-Off Theory (TOT) and Pecking Order Theory (POT). The POT offers the existence of a hierarchy in the use of sources of resources, while the TOT considers the existence of a target capital structure that would be pursued by the company. Sixteen accounting variables were used, in which five are dependent (related to indebtedness) and eleven are independent variables (explaining the determinants of the capital structure). It is observed that, with the use of the Panel Data, the determinants that seem to influence in a more accentuated way the levels of debt of the companies are: current liquidity, tangibility, return to shareholders, return of assets, sales growth, asset growth, market-to-book and business risk measured by the volatility of benefits. Suggestions for future research include the use of Panel Data to analyze other factors that may influence indebtedness, mainly taxes and dividends, as well as a deeper analysis of factors that may influence the speed of adjustment towards the supposed objective level.

scholarly journals IDENTIFIKASI EKSPEKTASI INVESTOR MELALUI KEBIJAKAN STRUKTUR MODAL, PROFITABILITAS, UKURAN PERUSAHAAN DAN GCPI

2014 ◽  
Vol 5 (2) ◽  
Author(s):  
Sugeng Haryanto
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Multiple Linear Regressions ◽  
Financial Reports ◽  
Public Companies ◽  
Purposive Sampling ◽  
Company Value ◽  
Linear Regressions ◽  
The Capital Structure

<p>Penelitian ini bertujuan untuk menganalisis pengaruh kausalitas antara kebijakan struktur modal, ukuran perusahaan, profitabilitas yang diukur dengan ROA dan perapan GCG yang diukur dengan Good Corporate Perception Index (GCPI) terhadap ekspektasi investor yang diukur dengan nilai perusahaan. Teknik  sampling yang digunakan dalam penelitian ini adalah purposive sampling. Sampel dalam penelitian ini adalah perusahan yang go public dan masuk dalam Indonesia Most Trusted Companies. Periode penelitian selama tahun 2012 dan 2013, serta mempublikasikan laporan keuangan 2012-2013. Jumlah sampel sebanyak 48 perusahaan. Teknik analisis yang digunakan regresi linier berganda. Hasil penelitian menunjukkan bahwa kebijakan struktur modal dan ukuran perusahaan tidak berpengaruh, sedangkan profitabilitas dan GCPI berpengaruh terhadap ekspektasi investor. Secarasimultan variabel kebijakan struktur modal, ukuran peusahaan, profitabilitas dan GCPI berpengaruh terhadap ekspektasi investor.</p><p>The objective of the study was to analyze the causality influence among capital structure policy, firm size, profitability which was measured by ROA and the implementation of GCG which was measured by Good Corporate Perception Index  (GCPI) toward the investors’ expectations which was measured by the company value. It was a purposive sampling study. The samples of this study were go public companies listed on the Indonesia’s Most Trusted Companies. The period of the study was in 2012 and 2013, and financial reports from 2012 to 2013. The total samples were 48 companies. The data were analyzed by multiple linear regressions. The result of the study showed that the capital structure policy and firm size did not  give any influence, whereas the profitability and GCPI gave influence toward the investors’ expectations. Furthermore; capital structure policy, firm size, profitability and GCPI variables influenced simultaneously toward investors’ expectations.</p>

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